gottalovepluto
DIS Legend
- Joined
- Jul 14, 2014
- Messages
- 22,522
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To anyone on unemployment last year FYI $10,200 in unemployment being non-taxable by the Feds as a part of the COVID relief bill is retroactive to 2020 if you meet the earnings thresholds. The IRS says do not file an amended return yet if you have already filed. If you have not filed and can wait- wait. A bit at least. The IRS is working to issue a new worksheet and update tax software platforms before the April filing deadline. Note: just because feds aren’t taxing does not mean states won’t tax it.
(I have a fam member who already filed in this boat. She had no idea until I sent her this article that it applied to 2020 taxes so I wanted to flag it for anyone here who might be affected and not know it.)
To anyone on unemployment last year FYI $10,200 in unemployment being non-taxable by the Feds as a part of the COVID relief bill is retroactive to 2020 if you meet the earnings thresholds. The IRS says do not file an amended return yet if you have already filed. If you have not filed and can wait- wait. A bit at least. The IRS is working to issue a new worksheet and update tax software platforms before the April filing deadline. Note: just because feds aren’t taxing does not mean states won’t tax it.
(I have a fam member who already filed in this boat. She had no idea until I sent her this article that it applied to 2020 taxes so I wanted to flag it for anyone here who might be affected and not know it.)
